Scotiabank began coverage on shares of Boston Properties (NYSE:BXP) in a research report sent to investors on Tuesday, October 16th, The Fly reports. The brokerage issued a sector perform rating on the real estate investment trust’s stock.
A number of other analysts have also commented on the company. ValuEngine lowered Boston Properties from a hold rating to a sell rating in a report on Monday, June 18th. Deutsche Bank lifted their price target on Boston Properties from $133.00 to $134.00 and gave the stock a hold rating in a report on Tuesday, June 26th. Jefferies Financial Group reiterated a hold rating and set a $118.00 price target on shares of Boston Properties in a report on Wednesday, August 1st. Stifel Nicolaus lifted their price target on Boston Properties from $130.00 to $135.00 and gave the stock a hold rating in a report on Thursday, August 2nd. Finally, TheStreet upgraded Boston Properties from a c+ rating to a b- rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Boston Properties has an average rating of Hold and a consensus price target of $134.67.
Shares of NYSE:BXP traded down $0.18 during mid-day trading on Tuesday, hitting $124.26. 525,342 shares of the company traded hands, compared to its average volume of 853,906. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.24 and a beta of 0.57. The company has a quick ratio of 4.02, a current ratio of 3.74 and a debt-to-equity ratio of 1.36. Boston Properties has a 12-month low of $111.57 and a 12-month high of $132.82.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.20 annualized dividend and a dividend yield of 2.58%.
Several institutional investors and hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC raised its stake in shares of Boston Properties by 7.3% in the second quarter. Riverhead Capital Management LLC now owns 5,723 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 388 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Boston Properties by 0.4% in the second quarter. Nomura Asset Management Co. Ltd. now owns 116,946 shares of the real estate investment trust’s stock valued at $14,668,000 after buying an additional 410 shares during the period. Brown Advisory Inc. raised its stake in shares of Boston Properties by 4.4% in the first quarter. Brown Advisory Inc. now owns 10,259 shares of the real estate investment trust’s stock valued at $1,264,000 after buying an additional 436 shares during the period. Creative Planning raised its stake in shares of Boston Properties by 7.7% in the third quarter. Creative Planning now owns 6,253 shares of the real estate investment trust’s stock valued at $770,000 after buying an additional 447 shares during the period. Finally, Hamel Associates Inc. raised its stake in shares of Boston Properties by 3.2% in the third quarter. Hamel Associates Inc. now owns 17,875 shares of the real estate investment trust’s stock valued at $2,200,000 after buying an additional 550 shares during the period. Hedge funds and other institutional investors own 94.31% of the company’s stock.
Boston Properties Company Profile
Boston Properties is a fully integrated real estate company, organized as a real estate investment trust, that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space totaling 50.2 million square feet and consisting of 166 office properties (including nine properties under construction), six residential properties (including three properties under construction), five retail properties and one hotel.
Further Reading: Why is the ex-dividend date different from the record date?
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